The AUDUSD has fallen below the trendline that had held since late January but there is no sign of a reversal as the decline still counts better as a correction.
“The rally from .8952 is wave C of a large 5th wave diagonal that could extend to a measured objective just below 1.00 in coming weeks (.9936).” Not until we see a 5 down or a drop below .9273 would we consider adopting a bearish bias. In fact, the very near term pattern is bullish as long as price is above .9333 (ideally above .9369).
STRATEGY: Bullish, against .9333, target TBD